Federated Hermes Inc. raised its holdings in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Free Report) by 592.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,735 shares of the company’s stock after acquiring an additional 27,155 shares during the quarter. Federated Hermes Inc.’s holdings in Beacon Roofing Supply were worth $1,868,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of BECN. Sandy Spring Bank bought a new stake in shares of Beacon Roofing Supply in the first quarter worth about $29,000. Exchange Traded Concepts LLC bought a new stake in shares of Beacon Roofing Supply in the first quarter worth about $36,000. Arcadia Investment Management Corp MI bought a new stake in shares of Beacon Roofing Supply in the first quarter worth about $38,000. Ronald Blue Trust Inc. increased its holdings in shares of Beacon Roofing Supply by 34.4% in the first quarter. Ronald Blue Trust Inc. now owns 817 shares of the company’s stock worth $43,000 after purchasing an additional 209 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Beacon Roofing Supply in the fourth quarter worth about $55,000.
Analyst Upgrades and Downgrades
BECN has been the topic of several research reports. Jefferies Financial Group lifted their target price on Beacon Roofing Supply from $75.00 to $88.00 and gave the stock a “hold” rating in a report on Thursday, July 13th. Stephens dropped their price target on Beacon Roofing Supply from $70.00 to $68.00 in a research report on Monday, May 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Beacon Roofing Supply from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. StockNews.com lowered Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Raymond James lifted their price target on Beacon Roofing Supply from $75.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $86.80.
Get Our Latest Analysis on BECN
Insider Buying and Selling at Beacon Roofing Supply
In related news, Director Stuart A. Randle sold 10,299 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $72.43, for a total value of $745,956.57. Following the completion of the sale, the director now owns 31,417 shares in the company, valued at $2,275,533.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Stuart A. Randle sold 10,299 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $72.43, for a total value of $745,956.57. Following the completion of the sale, the director now owns 31,417 shares in the company, valued at $2,275,533.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Carl Nelson sold 8,611 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $72.95, for a total value of $628,172.45. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Stock Down 4.8 %
Shares of NASDAQ:BECN opened at $77.46 on Friday. Beacon Roofing Supply, Inc. has a 1 year low of $50.42 and a 1 year high of $87.46. The business has a 50 day simple moving average of $82.23 and a two-hundred day simple moving average of $68.47. The firm has a market capitalization of $4.89 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.85 and a beta of 1.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.69 and a quick ratio of 1.00.
Beacon Roofing Supply Company Profile
(Free Report)
Beacon Roofing Supply, Inc, together with its subsidiaries, engages in distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.
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